KUALA LUMPUR: Liquidators seeking to recoup misappropriated funds from Malaysia's sovereign wealth fund 1MDB have filed legal proceedings against Standard Chartered Bank in Singapore over the bank's alleged role in enabling fraud that led to over $2.7 billion in financial losses.
The move is the latest in a wide-ranging effort to recover money belonging to 1Malaysia Development Berhad (1MDB), from which U.S. investigators say about $4.5 billion was stolen in a complex, globe-spanning scheme.
